Kakao M is reportedly planning on creating a Korean version of Netflix by venturing into the “Mobile Streaming TV” market. Their goal is to produce, plan and broadcast contents all in one place.
Kakao M will be reorganizing their parent company Kakao TV on a larger scale, in hopes to create a streaming TV platform with a variety of broadcast contents. They’re targeting the 10’s~30’s market.
They’ve already begun experimenting with the release of 3-episode web dramas, Work & Love Balance. The drama tells the story of a business woman who has trouble balancing her work life and love life.
IB Investment Bank announced that Kakao M has the possibility of changing the industry perceptions of broadcasts if it can turn its KakaoTalk users into viewers.
“About 42 million people use Kakao Talk in Korea. If Kakao M can create a real-time TV platform and turn its users into views, it could bring about a significant change in the media industry.”
— IB Representative
This isn’t the first time Kakao M was caught up in reports that it was planning on breaking into the broadcasting industry. When rumors spread that Kakao M was preparing to create their own broadcast channel, their CEO denied its claims.
But Kakao M has also made a lot of strategized mergers in recent days. In order to secure a competitive edge in the visual contents industry, they merged with top acting labels, such as BH Entertainment, J Wide Company, Soop Entertainment, and Ready Entertainment – the #1 casting agency for commercial models in Korea – and more.
With their recent mergers and acquisitions, Kakao M recruited more than 100 actors into its family tree. Some of the actors include, Lee Byung Hun, Han Hyo Joo, Han Ji Min, Kim Go Eun, Kim Tae Ri, Gong Yoo, Gong Hyo Jin, Lee Kwang Soo, Lee Dong Wook, and more.
Although nothing is for certain about Kakao M’s plans to create the “Korean Netflix”, industry insiders and investors have their eyes focused on Kakao M’s next move.